Page 78 - Hollard - Private Portfolio Policy Wording

Personal computers
What if you are under-insured?
If you have insured your property for less than its replacement value – i.e. you are under-insured – then you will have to bear a propor on of any loss in the event of a claim. In calcula ng this, we will apply the principle of average.
Example
Your laptop including reinstatement of data is insured with us for R6 000, but the cost to replace it is R12 000.
This means you are under-insured by half (or 50%). So if it costs R8 000 to x, we can pay out only half of R8 000 – or R4 000. Equally, if the laptop is stolen, we pay you only half of the R12 000 replacement cost – or R6 000.
This is known as the principle of average.
The pay-out is calculated as follows:
Replacement value Sum insured Repair costs
Under-insurance calcula on:
R6 000 R8 000 R12 000 X 1
R12 000 R6 000 R8 000
= R4 000
What we cover you for
STANDARD COVER Accidental loss or damage
We cover you for accidental loss or damage anywhere in the world, from any cause that is not speci cally excluded.
For example, you are covered if you drop your computer and break it, spill co ee on it, or it is stolen at home or at work.
Remote blocking
If your computer is stolen from your vehicle without any forced entry and you blame that on interference with your remote control by a blocking device, then you must prove it to us. The amount of the pay-out will depend on whether the evidence is acceptable to us and whether it can be backed up by CCTV footage. Check your Schedule now to see what the applicable limits are.
76 Hollard Private Por olio